Barak Ravid featured in The Financial
In “Global technology divestments grew 37% in the last year, driven by digital transformation,” The Financial highlights the technology findings from the EY Global Corporate Divestment Study.
The study surveyed more than 180 senior and C-suite technology executives between October and December 2016 and found that 80% of respondents said that “digital transformation” is influencing divestment plans. The study also found that 67% of respondents cite underlying industry trends, such as cloud and software as a service, as driving factors.
Barak Ravid, EY-Parthenon Managing Director, Co-head of Technology, weighed in on the findings, saying “Divestment of non-core businesses is an effective way to streamline the core business and raise needed capital to support growth. Those who continue to serially acquire without engaging in healthy portfolio pruning will be less prepared as the next wave of disruptive forces – including machine learning, intelligent things, blockchain and augmented reality – reshape the technology sector.”